The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF was launched. Viridi is a registered investment advisor and emerging fund manager that provides eco-friendly cryptocurrency investment products (NYSE: RIGZ, “RIGZ” or “the Fund”).
This actively managed exchange-traded fund, which invests in the cryptocurrency mining and mining infrastructure industries, focuses on bitcoin mining and mining infrastructur.
A growing number of investors want exposure to the cryptocurrency sector via regulated investment vehicles, but they also want active leadership and an environmental commitment.
RIGZ was founded with this goal in mind by Viridi. Because more than half of bitcoin mining in North America is done using renewable energy sources, an investment product like RIGZ is well-suited to the bitcoin mining industry. Viridi hopes that products like RIGZ will encourage this trend.
The Fund will be made up of a number of companies involved in cryptocurrency mining and infrastructure. The crypto-mining industry includes a wide range of companies, from semiconductor and specialised computer chip manufacturers to mining companies that secure energy agreements and use the hardware to validate digital asset transactions (“miners”). Because many publicly traded mining companies have these assets on their balance sheets, Bitcoin, Ethereum, and other cryptocurrencies may be indirectly exposed to RIGZ.
‘Bitcoin and cryptocurrencies are becoming increasingly important,’ said Wes Fulford, Chief Executive Officer of Viridi Funds
RIGZ seeks to invest in infrastructure that supports the entire ecosystem, with a focus on sustainability, in order to align purpose and profit. Cryptocurrency mining pioneers can generate Bitcoins and other cryptocurrencies at a fraction of the market price. As a former miner, I understand firsthand what it takes to run a successful mining business.
This will enable us to identify attractive mispriced opportunities and provide superior returns to investors through our active management strategy, which is based on the vast operational and capital markets experience of the entire Viridi team, including my own as the former CEO of Bitfarms Ltd.
The rationale for investing in mining and infrastructure companies is similar to that of gold producers: leveraged returns relative to the commodity “Fulford continued to explain. “According to our research, North American miners with access to low-cost power, large fleets of new generation drilling rigs, and capital are well positioned to generate higher returns in the coming months and years as China’s mining sector expands. We are excited to launch RIGZ at a critical juncture in the evolution of this market sector as a result of Viridi’s clean energy focus.